Colorado’s legitimate cannabis industry has come a long way because of the state’s severe income decline and state-wide store closures.
Politico just reported that Denver’s 3D Cannabis clinic, where Iraq War specialist Sean Azzariti became the first people to legally obtain recreational marijuana, has “temporarily closed”. However, the closing appears much closer to being continuous because of the boards on the windows and doors and the awful state of the parking lot.  ,
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During the idiotic COVID lockdowns, when too many people had too little to do, Colorado’s pot sales jumped to$ 2.2 billion — a dramatic 25 % increase over 2019’s$ 1.75 billion.  ,
Selling continued to grow in 2021 because maybe even my violet condition needed some natural aid to adjust to having Sundowner Joe Biden in the White House. I person — I think. However, 2021 marked the end of marijuana’s regular sales development since its legislation began in January 2014. Selling dropped to levels not seen since before COVID in 2022.  ,
Now, you’d have to go all the means back to 2016 to discover pot sales lower than previous year’s. Selling for this year are on record to be even lower than those for 2023. These sales numbers are no inflation-adjusted, though, I should add. Doing a hard 20 % adjustment, pot profits in 2023 were actually lower than they were in 2016.
The days are gone of Robert Hoban, a Forbes source, promoting” The Success Of Colorado’s Marijuana Tax Dollars.” Therefore, Hoban referred to legislation as” a huge success and proof-of-concept for the future of the British cannabis business” and remarked to readers that “it also accounts for billions in taxes revenues for the state of Colorado.”
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But selling are shrinking and with them, income. I should point out that some supporters claimed that the tax revenues would n’t be as high as they would. Colorado’s Westworld reported in March that it had collected” just over$ 274.1 million in commercial marijuana taxes and licensing fees” and that it had collected” a little more than$ 43.5″ through the first two months of 2024.”
For a state that spent$ 38.5 billion last year,$ 274.1 million in taxes — shared in part with local governments — does n’t amount to much. It seems like a long time ago when the hipsters were saying,” Only legalize it, man, and we’ll close the imbalance”! To be honest, the hipsters were perhaps mentally slammed when they came up with that.  ,
Politico blamed” a noisy assortment of factors” for pot’s fizzle, including” the spread of low, mostly unregulated intoxicating hemp- derived products more heightened competitive pressures. And cannabis remains officially illegal, subject operators to sky- higher taxes and expensive regulations”.
But weed was just as “federally illegal” while sales were booming, and” cannabis licenses in the state dropped more than 16 percent in the past year alone”, and” Curaleaf, one of America’s largest cannabis companies,  , said last January , that it had shuttered its production and cultivation facilities in Colorado”. Price stability would have been achieved with lower production and fewer dispensaries. People simply are n’t making as much money as they once did.
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No one seems to know what caused the bloom to stop growing.
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